This Sept. 15, 2013 image released by the Booklyn Academy of Music shows, foreground from left, Sarah Coomes, Robert Brubaker and Sarah Joy Miller in a Scene from “Anna Nicole” composed by Mark-Anthony Turnage at the Brooklyn Academy of Music Opera House in the brooklyn borough of New York. New York City Opera says it likely will fail in its goal to raise $7 million by Monday, the deadline it set for suspending the bulk of its 2013-14 season. (AP Photo/BAM, Stephanie Berger)

NEW YORK (AP) — New York City Opera could be sounding its final note this weekend — at least for a while.

The 70-year-old company says it plans to file for bankruptcy and scrap the bulk of its 2013-14 season unless it somehow manages to reach its fundraising goal, which it admitted is not likely.

“The board has voted to start bankruptcy proceedings next week if we do not raise the $7 million by the end of Monday,” spokesman Risa Heller said, adding that commitments had been made for just $1.5 million.

A collapse would leave the 130-year-old Metropolitan Opera as the city’s only major opera company.

“It would be absolutely appalling to imagine a city as great as New York not being able to have two major opera companies,” said Kasper Holten, director of opera at London’s Covent Garden. Login to read more